BANGKOK, Sept. 15, 2015 /PRNewswire/ -- The Western Union Foundation announced that it has raised funds to contribute to Nepal's rehabilitation programs. During the Western Union 2015 SEAO (Southeast Asia & Oceania) Agent Roundtable held recently in Bangkok, Western Union regional executives and top Western Union Agent representatives from SEAO discussed various initiatives to grow the company for better. In addition, the meeting gave the participants an opportunity to share in the rehabilitation of Nepal through an auction. Agents of Thailand collaborated with Mandarin Oriental Hotel in Bangkok, the venue of the Agent meeting, donating premium items that were auctioned to the participants of the two day conference.
Through the auction where Western Union employees and Agent representatives generously participated, the Western Union Foundation was able to award a grant of US$18,276 to Mercy Corps. The Mercy Corps response team is currently prioritizing efforts to provide shelter, food and water.
The Western Union Foundation provides a dollar-for-dollar match of qualifying contributions from Western Union Agents, business customers and other business partners; and 2:1 employee donations to NGOs providing disaster relief.
In April, 2015, The Western Union Foundation committed US$200,000 to support the relief efforts through discretionary and matching grants in collaboration with WU employees, Agents, and business customers. Western Union offered no-fee^ money transfer transactions through the month of May 2015 from countries around the world which have large Nepali diaspora to enable consumers to send money to family and loved ones in Nepal.
"We continue to help the communities we serve. I am pleased that once again Western Union employees and Agents have answered the call to support the rebuilding of Nepal," said Patricia Riingen, Western Union, Senior Vice President -- Southeast Asia & Oceania, "Our collective efforts with Western Union Agents, employees, and The Western Union Foundation will provide tremendous support to the Mercy Corps and their efforts to provide critical services to those affected communities."
On April 25, a 7.8 magnitude earthquake hit Nepal. Since then, several hundred aftershocks were felt in the country with the strongest occurring on May 12 with a magnitude of 7.3. Nepal has a population of 28 million* people and around 2.8 million people still require humanitarian aid, including access to food, sanitation and medical care and 1 in 10 people are homeless.** Nepal's government has estimated the cost of recovery at over $6.6 billion.***
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Western Union also makes money from currency exchange.
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Source: World Bank Country Data
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Source: AFP - Wednesday 6/25/2015
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Source: Reuters - Thu, 25 Jun 2015
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About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of June 30, 2015, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to millions of bank accounts. In 2014, The Western Union Company completed 255 million consumer-to-consumer transactions worldwide, moving $85 billion of principal between consumers, and 484 million business payments. For more information, visit www.westernunion.com.
About The Western Union Foundation
The Western Union Foundation is dedicated to creating a better world, where the ability to realize dreams through economic opportunity is not just a privilege for the few but a right for all. Through its signature program, Education for Better, and with the support of The Western Union Company, its employees, Agents, and business partners, The Western Union Foundation works to realize this vision by supporting education and disaster relief efforts as pathways toward a better future. Our combined social ventures efforts make life better for individuals, families and communities around the world. Since its inception, The Western Union Foundation has paid more than $103 million in grants and other giving. These funds have been pledged to more than 2,760 nongovernmental organizations in more than 136 countries and territories. The Western Union Foundation, is a separate 501(c)(3) recognized United States charity. To learn more, visit www.westernunionfoundation.org, or Follow us on Twitter @TheWUFoundation.